Holistic Financial Planning

For professionals and business owners alike, it is beneficial to assess whether your financial strategy is likely to meet with your personal aims and objectives and provide you with your desired lifestyle in retirement.

We offer a comprehensive financial plan; this includes a valuable lifetime cash flow forecast, an indication as to whether their financial strategy will enable you to achieve your personal lifestyle goals and leave you with a financially secure life, or whether they are likely to run out of capital at some point. We can also build scenarios, test the 'what if' scenarios which invariably arise, such as death of a partner, or enforced retirement due to illness or disability.

How powerful would it be for you to know when you could afford to retire, or calculate the sums you need to realise from the sale of the business in order to achieve and/or maintain the desired lifestyle in retirement?

As the end of the financial year draws ever closer, it’s important not to forget about any ISAs (Individual Savings Accounts) you have and any remaining payments that you’re allowed to make.

The maximum allowance for ISAs for the 2015/16 financial year is £15,240, so it’s important that you invest any funds that you have left to pay into your ISA as close to that amount as possible, as soon as you can.

Think back to the Chancellor’s budget proposals in July last year, and you may remember an announcement about changes to the annual pension allowance. Well, that change is set to come into effect at the start of the new tax year on 6th April 2016. It therefore seems like a good idea for a bit of a refresher on what those changes are and what they potentially mean for you.

From 6th April, the annual pension allowance will become tapered. The change will affect anyone earning a taxable income greater than £150,000 in a tax year. For every £2 earned over the £150,000 threshold, the earner’s allowance will be reduced by £1.

Frequently asked questions

Yes, after an initial meeting we will be able to assess how we can help you, and outline what, if any charges we would need to levy to look after your financial planning needs. We would then help you to transfer over your plans.

This depends on how you wish to engage us. Most of our clients wish to benefit an annual review, where others wish us to establish the transaction, and then come back to us when/if they choose they need further assistance. This will be discussed at the initial discovery meeting and confirmed in the client engagement letter and the suitability report.

In some circumstances that maybe the correct option, but before a decision is made a full review would need to be undertaken. This review would amongst other things look at the type of pension it is, you’re financial planning objectives, the death benefit requirements, charges and your attitude to risk/ability for loss. Only when this review had been undertaken would any recommendations be made to you in writing.

This depends on the type of investment you put the money into – it is important to set aside a level of emergency fund, say 3 to 6 month income on deposit, and then consider a manner to vest additional monies which take account of your financial needs. Part of the initial fact finding processes are to assess which styles of invests are appropriate to your needs.

Yes, we are able to offer you support and advice, and provide backing to your solicitor on you gaining the right outcome. There are several option available to you, and all these will be explained. It is important to not only consider what is relevant today, but also into your retirement. Just a thought, don’t forget your State Pension when looking at this aspect, you can get a forecast here www.gov.uk/government/publications/application-for-a-state-pension-statement

This is one of the most important aspects of financial planning. We will assist you in determining your appropriate attitude to risk, and as important your ability for loss. For example you may wish to have a higher risk tolerance for regular contributions to take account of ‘pound cost averaging’, and/or phase lump sums out of higher risk funds coming up to retirement.

There are many taxes, for example income tax, capital gains tac, corporation tax, inheritance tax etc. Investment tax wrappers work in different ways, and it is important to establish a linked up investment structures which work together to establish the outcome you need from your financial plan. We will review these for you, and at the same time make sure that the charges are the most competitive you can access and that the funds you are investing into are appropriate to your attitude to risk and ability for loss.

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Banner Jones Wealth Management is:

the trading name of Banner Jones Wealth Management LLP (registered in England & Wales, number OC380075)

a separate legal entity to Banner Jones ltd

is not a law firm authorised or regulated by the Solicitors Regulation Authority

an Appointed Representative of Future Life Wealth Management Ltd which is authorised and regulated by the Financial Conduct Authority.

We are authorised and regulated by the Solicitors Regulation Authority (SRA number 493083) under the Solicitors' Code of Conduct. You can access the Code by contacting the SRA, In writing to: The Cube, 199 Wharfside Street, Birmingham, B1 1RN. Fax: 0121 616199. Tel: 0870 6062555 (UK) +44 0121 3296800 (International) or via www.sra.org.uk.

The directors of Banner Jones Ltd are Solicitors of England and Wales.